Magazine article American Banker

Stable, Security-Minded Tech Partners Are Crucial for Any Internet Venture

Magazine article American Banker

Stable, Security-Minded Tech Partners Are Crucial for Any Internet Venture

Article excerpt

To the Editor:

I read with interest Tom McGrath's Aug. 11 guest article "Don't Be Left Holding Bag with Failing Web Vendor" (page 11). As the largest provider of Internet banking services to financial institutions, we at Digital Insight agree with his position.

Now is a critical time for our business, but even more importantly, our customers' businesses. Decisions by financial institutions to take their businesses to the Web is an event in itself; choosing the right partner to help them get there is another.

Our position remains the same: Financial institutions should plan for the future. This involves not only the viability of the service partner, but the technology they choose, the way they deploy and maintain it, the solution's ability to scale and grow as the business grows, and the confidence of knowing their customers' data is available, safe, and secure.

To Mr. McGrath's list of partner evaluation criteria, we would add:

Identify a strategic partner -- be it a trade organization, consultant, or a vendor of choice -- that can help in developing a plan for building your Internet strategy and presence. If you conclude through the planning exercise that the current business model is the best -- that it's not time for Internet banking -- it is still worthwhile just to go through the process of deciding where you are on the Internet and where you want to be.

Choose an incremental-development approach. The needs and solutions that come out of the planning exercise should enable you to implement incrementally so that value can be realized along the way. …

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